‘USD 10 million donated by United Arab Emirates to back WTO initiatives’

The United Arab Emirates (UAE) has made a significant contribution of USD 10 million to various funds under the World Trade Organization (WTO). This generous donation was welcomed by WTO Director-General Okonjo-Iweala, who expressed her gratitude for the UAE’s commitment to sustainable and inclusive trade.

In her statement, Okonjo-Iweala highlighted the importance of the UAE’s contribution to the Fisheries Funding Mechanism, the EIF Trust Fund for Least Developed Countries (LDCs), and the Women Exporters in the Digital Economy Fund. She emphasized the positive impact these funds will have on enhancing fisheries sustainability, facilitating trade for LDCs, and empowering women entrepreneurs. Okonjo-Iweala also praised the UAE for its role as the host of MC13, where such initiatives can flourish and make a tangible difference on a global scale.

Sheikh Abdullah of the UAE announced the donation, stating that the funds will support initiatives such as the Fisheries Funding Mechanism, the Enhanced Integrated Framework (EIF), and the Women Exporters in the Digital Economy Fund. These funds aim to assist developing and LDC members in implementing trade agreements, building capacity, and empowering women entrepreneurs through digital technologies.

The Fisheries Funding Mechanism focuses on providing technical assistance and capacity building for developing countries to comply with fisheries subsidies agreements. The EIF Trust Fund helps least developed countries participate in and benefit from international trade opportunities. The Women Exporters in the Digital Economy Fund will support women-led businesses in adopting digital technologies and expanding their online presence.

This generous contribution from the UAE demonstrates their commitment to promoting sustainable trade practices and empowering vulnerable communities. The funds will play a crucial role in supporting economic development and inclusive trade initiatives.